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If your IRA balance was $100,000, your RMD for the year would be $4,545.45. Take note that calculating your RMD works a bit differently if your spouse is the only primary beneficiary to your...

The costs associated with withdrawing money from a 401(k) or IRA early are well-known. Doing so before age 59.5 means paying a 10% penalty on top of ordinary income tax. However, there is a lesser ...

For 2022, you can contribute up to $20,500 to a 401 (k). The allowable IRA contribution limit is just $6,000. Once you reach age 50, the IRS allows catch-up contributions for both IRAs — $1,000 —...

You can plug in your own numbers to compare the two types of account by using our IRA calculators. To convert or not to convert Because the Roth is potentially better than the traditional IRA, it...